Ironwood Pharmaceuticals (NASDAQ:IRWD) Shares Gap Up After Earnings Beat

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD – Get Free Report)’s stock price gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $3.77, but opened at $4.30. Ironwood Pharmaceuticals shares last traded at $4.2460, with a volume of 944,466 shares changing hands.

The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.04. Ironwood Pharmaceuticals had a net margin of 33.36% and a negative return on equity of 58.38%. The firm had revenue of $133.04 million during the quarter, compared to analysts’ expectations of $119.99 million.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wall Street Zen lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 5th. Weiss Ratings upgraded Ironwood Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Jefferies Financial Group raised Ironwood Pharmaceuticals to a “hold” rating in a report on Friday, September 25th. Finally, Zacks Research lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.23.

Read Our Latest Research Report on Ironwood Pharmaceuticals

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. D Orazio & Associates Inc. acquired a new stake in shares of Ironwood Pharmaceuticals during the 3rd quarter valued at about $148,000. Allspring Global Investments Holdings LLC increased its stake in shares of Ironwood Pharmaceuticals by 4.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 85,935 shares of the biotechnology company’s stock valued at $323,000 after purchasing an additional 3,620 shares in the last quarter. Alps Advisors Inc. purchased a new position in shares of Ironwood Pharmaceuticals in the 3rd quarter valued at about $552,000. Calamos Advisors LLC raised its holdings in Ironwood Pharmaceuticals by 158.4% in the 3rd quarter. Calamos Advisors LLC now owns 37,520 shares of the biotechnology company’s stock worth $149,000 after purchasing an additional 23,000 shares during the period. Finally, Ascent Group LLC acquired a new position in Ironwood Pharmaceuticals in the 3rd quarter worth about $58,000.

Ironwood Pharmaceuticals Stock Up 11.8%

The company has a market cap of $696.49 million, a PE ratio of 5.49 and a beta of 0.25. The business has a 50-day simple moving average of $3.92 and a 200-day simple moving average of $3.97.

Ironwood Pharmaceuticals Company Profile

(Get Free Report)

Ironwood Pharmaceuticals, Inc is a gastrointestinal-focused biopharmaceutical company headquartered in Boston, Massachusetts. The company discovers, develops, and commercializes medicines intended to treat disorders affecting the gastrointestinal tract, with an emphasis on conditions involving gut motility and visceral sensitivity.

Ironwood’s principal commercial product is Linzess (linaclotide), marketed in the United States in collaboration with AbbVie. Linzess is approved for adults with irritable bowel syndrome with constipation and chronic idiopathic constipation.

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